Childrenswear retailer Pumpkin Patch has revealed the value of its online business - and plans for boosting it.
The New Zealand-based company has provided an update on its business operations, predicting significant online growth despite the challenging retail environment.
The company, which operates 187 stores across Australia and New Zealand, has experienced considerable change over the last 12 months both operationally and structurally, following a management shuffle and the shut-down of its UK retail network.
However, the company's chief financial officer Matthew Washington has revealed that the company has emerged stronger, with online sales expected to drive significant future earnings growth.
Specifically, Washington predicts online sales are still on track to exceed $30 million, which would be over 50 per cent up on last year's results, with online sales being the equivalent of around 14 per cent of Pumpkin Patch's Australasia retail sales.
The company is also in the process of launching new online initiatives, including the recent ‘Click and Collect’ facility introduced in New Zealand recently, which will now be rolled out in Australia over the next few months.
The new ‘Click and Collect’ strategy will allow local customers to purchase Pumpkin Patch products online and collect them in-store.
The feature will also enable shoppers to order specific sizes or styles online that not available in-store, to be delivered to their home or nearest Pumpkin Patch.